“A similar rate of increase in the following years would make the new state pension greater than the personal allowance well before April 5 2028.”
Therefore, Bonavia is calling on HMRC and the government to keep simplicity for pensioners’ tax affairs and avoid them from building up unexpected tax liabilities.
In response, an HMRC spokesperson said: “Some customers receiving state pension who were previously required to complete a self assessment tax return may now be issued a simple assessment instead.
“This is much more straightforward for the customer as they don’t need to complete any forms, they just need to check they’re paying the right tax.”
tom.dunstan@ft.com
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